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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
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